I have 5 private student loans with a cosigner through Keybank. 2 of them charged-off, and I paid a lump-sum settlement for these loans, which resulted in a 1099-C. The other 3 loans recently charged-off, and I am waiting for a response to my settlement offer.
I thought I would soon in the clear from this nightmare, but I am hearing that my cosigner could be liable for the unpaid amount. Would this be the case if they are reporting the loss to the IRS? Does anyone have any advice on how to proceed?
